Traffic congestion will be a $100 billion drag on the New York metro area economy over the next five years unless something is done to discourage cars and trucks from crowding the streets and highways of the region during the busiest times of the day, according to a study conducted by HDR for the Partnership for New York City.
The Manhattan central business districts, where a quarter of regional economic activity is concentrated, are the primary source of traffic congestion across the region. Excess congestion has increased 53 percent since the Partnership and HDR conducted an initial analysis in 2006, rising to a cost of $20 billion annually.
Traffic congestion will be a $100 billion drag on the New York metro area economy over the next five years unless congestion is reduced.
The annual cost of delay in commuting time and work-related travel is $9.2 billion.